Chipmaker Intel is reportedly working on a new virtual television service. A few details on Intel's virtual television plan surfaced last summer from five different sources claiming to be familiar with the project reports Reuters. The settop box (using Intel technology inside, of course) would run a slimmed-down cable TV service.

Intel is betting on facial recognition technology for targeted ads and a team of veteran entertainment dealmakers to help win media partners for the service. The settop box can't identify specific people, but is able to provide general data about gender and whether or not viewer is an adult or a child.

According to a source that spoke with TechCrunch, “Everyone doing a half-assed Google TV so [Intel is] going to do it themselves and do it right.”

Intel apparently hopes that its TV service could help advertisers by offering reliable metrics on viewers. Most studios in advertisers currently can only use Nielsen ratings to determine if their ads in shows are hitting their target markets. The online TV service will be able to provide much better metrics for content makers.

The streaming service promises a cloud DVR feature allowing users to watch any past TV show at any time without the need to record the show. It will also allow viewers to pause live TV and rewind shows in-progress. The settop box also promises access to apps available on Intel's app marketplace.

While Intel had initially hoped to launch its settop box and TV service this year, TechCrunch reports that the device won’t be shown until next week at CES.